February 2, 2018

On December 6, 2017, Novacap acquired a majority stake in Joseph Ribkoff Inc., a Montréal-based designer, manufacturer and distributor of fashionable women’s apparel.

This transaction is one of the first for Novacap in connection with the fashion industry. It was funded by the Novacap Industries IV, L.P. fund and was completed in partnership with the Fonds de solidarité FTQ, the founder, Joseph Ribkoff, and senior management of the company. The financial terms of the transaction have not been disclosed.

Novacap is a leading Canadian private equity firm with about $2.6 billion under management while Fonds de solidarité FTQ is a Québec-based development capital investment fund with over $13 billion in net assets. Joseph Ribkoff Inc. is one of Canada’s leading fashion designers and has presence in more than 64 international markets. The brand was established in 1957.